Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) Shares Cross Above 50 Day Moving Average – Here’s Why

Invesco Dorsey Wright Technology Momentum ETF (NASDAQ:PTF) shares crossed above its 50-day moving average during trading on Thursday . The stock has a 50-day moving average of $72.29 and traded as high as $76.39. Invesco Dorsey Wright Technology Momentum ETF shares last traded at $76.28, with a volume of 35,142 shares changing hands.

Invesco Dorsey Wright Technology Momentum ETF Trading Down 2.4 %

The company has a market cap of $536.11 million, a P/E ratio of 12.47 and a beta of 1.23. The company has a 50-day simple moving average of $72.66 and a 200 day simple moving average of $65.44.

Institutional Investors Weigh In On Invesco Dorsey Wright Technology Momentum ETF

Hedge funds have recently made changes to their positions in the company. Raymond James & Associates boosted its holdings in Invesco Dorsey Wright Technology Momentum ETF by 58.1% in the third quarter. Raymond James & Associates now owns 132,298 shares of the company’s stock worth $8,392,000 after acquiring an additional 48,643 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in Invesco Dorsey Wright Technology Momentum ETF by 179.6% in the 2nd quarter. Envestnet Asset Management Inc. now owns 55,863 shares of the company’s stock worth $3,460,000 after purchasing an additional 35,882 shares in the last quarter. Valley Wealth Managers Inc. purchased a new stake in Invesco Dorsey Wright Technology Momentum ETF during the 2nd quarter worth approximately $1,847,000. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Invesco Dorsey Wright Technology Momentum ETF by 49.3% in the second quarter. Cambridge Investment Research Advisors Inc. now owns 58,352 shares of the company’s stock worth $3,614,000 after buying an additional 19,277 shares during the last quarter. Finally, Theory Financial LLC lifted its stake in shares of Invesco Dorsey Wright Technology Momentum ETF by 22.3% during the third quarter. Theory Financial LLC now owns 99,014 shares of the company’s stock worth $6,361,000 after buying an additional 18,063 shares during the period.

Invesco Dorsey Wright Technology Momentum ETF Company Profile

PowerShares Dynamic Technology Sector Portfolio (the Fund) seeks investment results that correspond generally to the price and yield of the Dynamic Technology Sector Intellidex Index (the Index). The Index consists of stocks of the United States technology companies. These are companies that are principally engaged in the business of providing technology-related products and services, including computer hardware and software, Internet, electronics and semiconductors, and communication technologies.